The shift in trend was predicted by equity analysts KBW who said early this year that now is the time to buy asset managers as flows of new money into equity funds are expected to be subdued and uncertain in 2010, which could lay the groundwork for a contrarian bet on asset management stocks.

Research made by global accounting consulting firm KPMG recently showed that private equity dealmaking had rebounded in the first quarter of 2010 to its highest level since Lehman Brothers collapsed, highlighting how UK buy-out bosses are expecting an economic recovery.

Other acquisitions involve Sanlam Investments, a large South African investment and wealth management firm, which bought Swiss FoHFs Octane Holdings and raised its stake in South African hedge fund Blue Ink Investments from 50% to 75% in January this year.

JPMorgan Chase & Co. held preliminary talks with Arminio Fraga in February to buy a minority stake in the Brazilian hedge fund firm Gavea Investimentos Ltda.

UK Financial services company Northern Trust Corp. expressed last month its desire to buy a fund administrator or an asset manager.

UK-based Collins Stewart Wealth Management also completed a deal to acquire Corazon Capital, an asset manager based in Guernsey and Geneva, last month.